Home Purchase Loan Options for SLO County
& all of CA
Mortgage Preapproval
Know your budget before you shop.
Understand your price range.
Know expected payments.
Explore loan options.
Be able to submit offers!
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Conventional
It’s the most common loan type for a reason.
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FHA
Fantastic for buyers with lower credit scores.
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USDA
Property-specific, but zero down options available.
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VA
Service members and veterans qualify for a 0% down home purchase.
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Construction & Renovation
Options for ground-up construction and home renovations.
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Bridge Loans
Buy a new home before selling your current one.
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Down Payment Assistance
Buy a home with little to no money out of pocket.
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Bank Statement Loans
Designed for self-employed buyers. Qualify using bank statements instead of tax returns.
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Investment Properties
Fix-and-flip, DSCR, and hard money options with fast funding for investors.
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Mobile or Manufactured
Financing options for mobile homes, including homes with lot fees or park rent.
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Jumbo
Financing for higher-priced homes above the applicable conforming loan limit.
How Mortgage Preapproval Works
- Share the basics. Complete the application and provide documents covering income, assets, debts, and credit.
- Compare loan options. We’ll review programs and estimated payments based on your goals and financial profile.
- Shop with a plan. Use your preapproval to focus on a realistic price range and make a stronger, more informed offer.
Helpful Homebuying Resources
Learn about bridge loans, down payment assistance, bank statement loans, and mobile and manufactured home financing.
Estimate your monthly mortgage payment, explore your buying power, or browse all mortgage calculators.
Mortgage Preapproval FAQs
What is the difference between prequalification and preapproval?
Prequalification is generally an early estimate based on information you provide. Preapproval involves a more detailed review of your credit, income, assets, and debts.
What documents are commonly needed?
Common items include recent income documentation, bank or asset statements, identification, and information about current debts. The exact list depends on how you earn income and the loan program being reviewed.
Why get preapproved before shopping?
Preapproval helps define a practical price range, clarifies estimated payments, and gives you time to address financing questions before making an offer.
Does preapproval guarantee final loan approval?
No. Final approval also depends on the property, appraisal, title, insurance, updated financial information, and the lender’s final underwriting review.